Mongolian Mortgage plans offering of new notes

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Mongolian Mortgage Corp. HFC LLC is planning an offering of new notes that will be issued concurrently with notes issued to settle an exchange offer for its 8.85% senior notes due 2024, according to a notice.

Like the existing notes, the new notes will be guaranteed by MIK Holding JSC. The minimum coupon is expected to be announced on Jan. 8 and pricing to take place on Jan. 11.

Proceeds from the new-money issuance will be used for purchasing mortgages with recourse, repayment of any remaining outstanding notes at maturity and general corporate purposes.

Based in Ulaanbaatar, Mongolia, the company issues mortgage-backed securities and is a subsidiary of Mongolian Mortgage Corp. Holdings JSC.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.